Subject: File No. S7-06-04
From: Nan Fuchs

April 2, 2004

I have a lot of investments with Merrill-Lynch. I both like and trust my advisor. However, I would still like to know how much she gets paid for various mutual funds I might be considering buying.

I think this new proposed ruling would clarify the role of investment counselors and help separate those who are ethical from the rest.

I have no objection to their making a decent living. But it would be good to see if theres a pattern indicating they are putting their welfare over ours.